If Fort Bend Independent School District’s property tax rate is raised by 3.5 cents, that’s still much less than what officials thought might be required two years ago to pay for a major bond issue approved by voters in November 2007.

FBISD Superintendent Dr. Timothy Jenney made that observation at Monday night’s Board of Trustees meeting in response to an audience member’s comments critical of the proposed tax rate increase.

The FBISD administration is proposing a maintenance and operations tax rate of $1.04 per hundred dollars in property valuation - the same rate the district currently levies. However, the administration is proposing increasing the debt service tax rate to 26.5 cents per hundred - a 3.5-cent increase over the current 23-cent rate.

The district raised the debt service tax rate by 2 cents last year, generating some notable criticism in the process.

On Monday, Fresno resident Rodrigo Carreon was critical, in public comments to the board, of the district administration’s proposal to hike the tax rate by another 3.5 cents.

In a rare direct response to public comments, Jenney disputed those contentions.

“Mr. Carreon, just to put a fine point on it, the tax rate is still about half what was projected” in 2007 prior to approval of a $428 million bond issue.

Board President Bob Broxson said information made public on that bond issue included a “maximum projection” indicating that an 11-cent property tax increase might be required to cover the debt service.

“Dr. Jenney’s statement is, we’ve only raised it 5.5%” if the current 3.5-cent increase is approved by the board, Broxson said. “Which is half of what we thought we would have to do.”

The district’s ability to (so far) service its bond debt without raising taxes as much as it thought might be necessary stems in large part from market conditions.

That was evidenced as the district voted Monday to issue about $174 million in bonds, in part to pay off and retire $134 million in 1999 bonds carrying a higher interest rate. The district’s financial advisor said the move saved FBISD $10 million it otherwise would have had to spend in interest.

As for the administration’s recommended $1.305-per-hundred 2009 tax rate, FBISD board members could not by law approve it Monday.

Instead, the board agreed with Jenney’s administration that the tax rate, including a 3.5-cent increase, will officially be the district’s “proposed rate.”

By law, the district must set a time and place to conduct a public budget meeting to discuss district finances and the proposed tax rate, and to accept public comments, before voting on whether to approve the tax rate.

The board voted to hold that meeting at 5 p.m. Aug. 10, in the FBISD Board Room at the district’s administration offices on Lexington Boulevard in Sugar Land.